Philam Gold Education Plan
Recommended for: parents or newly married couples who want to prepay their children's education
Benefits:1. Educational benefit
- receive either a lump sum payment at a discounted rate or every school year/semester
2. Increasing educational benefit
- starting on the second year, the educational benefit increases by 15% based on the previous year for a set number of years
3. Graduation gift
- receive 100% of the total cost of the plan upon completion of all benefit payments, making the education plan practically cost free
4. Scholastic achievement awards
- cash incentives for corresponding top honors
5. Insurance benefits
- term insurance, credit life insurance, total disability benefit, accidental death and dismemberment benefit
6. Short paying period
- only 5 years to pay
Eligibility:1. 0-1 year old for elementary
2. 0-6 years old for high school
3. 0-10 years old for college
Factors to consider:1. Age of child
2. Initial educational benefit
Plans:1. Elementary School Program
2. High School Program
3. Four-Year College Program
4. Five-Year College Program
